The deal to avoid the fiscal cliff is done as the House passed the Senate version in a late night session on Tuesday.

The vote was 257-167. The fact that only 85 Republicans (out of 241) supported the deal calls into question Speaker Boehner's leadership in the next congress, although it is doubtful anyone has the fortitude - or the stature - to challenge him. All but 20 Democrats voted for the bill.

Gone is the payroll tax holiday, which means 77% of American households will experience a tax increase in the new year. Taxes on dividends and capital gains go up for those making over $400,000 ($450,000 for families) while the estate tax now has a $5 million exemption. The rates for the rich climb t0 39.6%.

The deal also rescinded the pay raise granted Congress by an Obama executive order.

The measure also will keep benefits flowing to 2 million unemployed workers on the verge of losing their federal checks. And it will delay for two months automatic cuts to the Pentagon and other agencies that had been set to take effect Wednesday.

Many economists had warned that the scheduled tax increases and spending cuts would have plunged the economy back into recession.

Conservatives complained bitterly that the legislation would raise taxes without making any significant cuts in government spending. For much of the day, the measure appeared headed for defeat as Boehner contemplated tacking on billions in spending cuts, a move that would have derailed a compromise that the White House and Senate leaders had carefully crafted.

I’m scratching my head a little here. I’m sure in the minority, but on the tax side alone... the republicans did pretty well.

The temporary Bush tax cuts are now permanent. The rich got redefined from $250K to $450K. And yes, their taxes went up — to Clinton era levels. They still are much lower than they were during the Reagan years.

The payroll tax cut (which was a terrible idea to begin with, since it funded SS from general tax receipts, which basically meant the rich were funding the difference) went away.

This is by no means perfect. And we got screwed on the spending side (for now). But on the tax side, given the outcome of the election, I don’t see how we could have done much better.

That’s what they ALWAYS say. This problem has been there from as far as I can remember and it is NEVER solved and always gets worse regardless of who is in charge. Which is to say, we get SCREWED ALL THE TIME.

Budget Chairman Paul Ryan, who along with McCarthy and Cantor make up the so-called Young Guns was also expected to break with Boehner prior to the vote, but at the last minute he apparently changed his mind and voted for passage, a Republican source said.

Following the vote, Ryan told Buzzfeed, When you like something, you vote for it. I wasnt afraid. He said he thought the deal reflected conservative values.

In a statement released by his office later, Ryan was more forceful in defense of his vote, noting that while he had concerns “Will the American people be better off if this law passes relative to the alternative? In the final analysis, the answer is undoubtedly yes. I came to Congress to make tough decisionsnot to run away from them.”

Ryan is looking at a Presidential run. He looked and saw it was going to pass anyway and made a political calculation to vote Yea. He learned from Mitt how to be the next liberal in Conservative clothing don't forget...

How can anyone be surprised? This played out exactly as scripted and we’ll get to see act two in February and March as they all wring their goddam hands over what to do about the so-called ‘debt ceiling’! What a JOKE!

Im scratching my head a little here. Im sure in the minority, but on the tax side alone... the republicans did pretty well.

The temporary Bush tax cuts are now permanent. The rich got redefined from $250K to $450K. And yes, their taxes went up  to Clinton era levels. They still are much lower than they were during the Reagan years.

The payroll tax cut (which was a terrible idea to begin with, since it funded SS from general tax receipts, which basically meant the rich were funding the difference) went away.

This is by no means perfect. And we got screwed on the spending side (for now). But on the tax side, given the outcome of the election, I dont see how we could have done much better.””

Agreed. With the kenyan vulture and his allies in control of the senate, supreme court, and the executive branch, I am surprised we got this much. I don’t think most people understand the the head of the snake and his rat party hold most of the aces in this game of rob the taxpayer. The kenyan maggot and his allies won/stole most of the election and we simply stand and take it. Our property and lives belong to them and short of physical conflict that is what remains.

18
posted on 01/02/2013 9:00:08 AM PST
by Neoliberalnot
(Marxism works well only with the uneducated and the unarmed.)

You take your level headed logic and reason right out of here. This is no place for sound thinking.

Really though, with Democrats in charge of the Seante and the White House, I’m not sure what people expected. The concession from Obama to give up on the $250k limit and increase it to $400k was a direct violation of one of his campaign promises to be used against him, and the GOP will have more leverage when the debt ceiling legislation comes aorund. This is far from over.

We got screwed on the spending side, yes, in exchange for what? Rearranging taxation deck chairs on the Titanic. Spending is all that matters! Because they’re gonna tax us anyway, duh! They own the freaking money supply. All this compromise does is ensure the extra whatever tax hikes on the books will allow them to spend that much more on top of all the other money we don’t have.

I’m not saying the tax cut fights of the last few decades were meaningless. But they always should be viewers as means to an end, the end being smaller government. Instead we got backed into defending tax cuts as the best way to raise revenue. And we wonder why Democrats beat the hell out if us. We are the Stupid Party.

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